Appointment of Chairman designate

Old Mutual Limited
Incorporated in the Republic of South Africa
Registration number: 2017/235138/06
ISIN: ZAE000255360
LEI: 213800MON84ZWWPQCN47
JSE Share Code: OMU
JSE Share Code: OMLI
MSE Share Code: OMU
NSX Share Code: OMM
ZSE Share Code: OMU

("Old Mutual" or "the Company")

Ref: 02/26
17 March 2026

Notification of Appointment of Roger Jardine as Chairman Designate and Pending Retirement of Trevor Manuel as Chairman

In compliance with paragraph 6.71 of the JSE Listings Requirements, the Board is pleased to announce the appointment of Mr Roger Jardine as Chairman Designate of Old Mutual. Mr Jardine will assume the chairmanship, subject to his confirmation as director at the Company's Annual General Meeting ("AGM") to be held on 5 June 2026, at the conclusion of the AGM.

Mr Trevor Manuel, Chairman of Old Mutual, who turned 70 in January 2026, the retirement age for directors as set out in the Board Charter, will retire as Chairman and as a director of the Company upon the close of the AGM.

Mr Jardine will work alongside Mr Manuel during a three‑month handover period from March to June 2026 to ensure continuity of strategic leadership, structured stakeholder engagement, and an orderly transition.

Mr Jardine, who joined the Old Mutual Board as an independent non‑executive director in September 2025, is a highly respected South African business leader with extensive board‐level and executive experience across South and southern Africa.

He most recently served as chairman of FirstRand Limited for nearly six years and has previously held chief executive positions at Kagiso Media, the Aveng Group, and Primedia. Over the course of his career, he has also served as a non‑executive director across a broad range of sectors, including steel, retail, manufacturing, IT services, mining services, and infrastructure development.

He brings deep expertise in financial services, governance, commercial operations, stakeholder engagement, public policy, and the regulatory environment. Mr Jardine holds a Master of Science (MSc) in Radiological Physics from Wayne State University and a Bachelor of Science (BSc) in Physics from Haverford College, both in the United States.

Congratulating Mr Jardine on his appointment, Mr Manuel said: "On behalf of the Board, I want to congratulate Roger on his appointment as Chairman Designate. Roger has outstanding leadership experience in financial services and the broader business environment. The Board is confident that his proven strategic, governance, and operational leadership will be invaluable to Old Mutual as it continues on its ambitious path of strategic and operational renewal and enhanced value creation. I look forward to working closely with Roger over the next few months to ensure a smooth and effective transition."

Sandton

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